Posted on 02/22/2009 12:00:13 PM PST by jessduntno
Official: Obama plans to slash deficit in half
President Barack Obama has committed hundreds of billions of dollars to help revive the economy and is working on a plan to cut the federal deficit in half by the end of his first term.
Obama will touch on his efforts to restore fiscal discipline at a White House fiscal policy summit on Monday and in an address to Congress on Tuesday. On Thursday he plans to send at least a summary of his first budget request to Capitol Hill. The bottom line, said an administration official Saturday, is to halve the federal deficit to $533 billion by the time his first term ends in 2013.
"We can't generate sustained growth without getting our deficits under control," Obama said in his weekly radio and Internet address that seemed to preview his intentions. He said his budget will be "sober in its assessments, honest in its accounting, and lays out in detail my strategy for investing in what we need, cutting what we don't, and restoring fiscal discipline." Republicans were not convinced. They said Obama's plan would hurt small businesses, including many filing taxes as individuals and possibly facing higher taxes under his plan. "I don't think raising taxes is a great idea," Senate Republican leader Mitch McConnell of Kentucky told CNN's "State of the Union" on Sunday. "And when our good friends on the other side of the aisle say raising the taxes on the wealthy, what they're really talking about is small business."
(Excerpt) Read more at news.aol.com ...
Well, he had to double it before he could slash it in half.
And, no, Liz Sidotti lacks all sense of humor.
He can do it, you know, just by printing more money.
Yes, definitely political humor.
"Say you want a revolution..."
This is so nutty I’m having visions of woody allen’s banana republic wherein the fearless leader announces that everyone will change their underwear every 10 minutes and they’ll have to wear it on the outside so we can check.
That part cannot be more than 3 months away right now.
This is just Alinsky-type propaganda to pave the way for raising taxes and government gaining that much more control of our lives.
If he succeeds in getting his ideas put into action, he will make the Peanut Era look like Utopia.
Yeah, sure. Right after he walks across the Potomac
what else?
By taxing the every-livin’ day-lights out of anyone with $$$, OR by seizing investments and safe-deposit box contents in the name of crises? Just askin’.
Obummer must have droped his pants and started blowing smoke agan.
Of course the point being that it sounds good. The MSM will naturally laud the effort and eventually claim that it “is working.” Facts will be ignored as usual.
“Obummer must have droped his pants and started blowing smoke agan.”
Smoke? Don’t recognize the name, but the face is familiar...
Military - gone
NASA - gone
Border enforcement - gone
Elections - gone
what else?
YOUR 401K
67 MILLION OBAMA VOTERS ARE COUNTING ON YOU TO PAY THEIR BILLS
Yep, good one. And your IRA too, absorbed into the SocSec nightmare but counted as income, not a liability. Socialized Health Care and the “right” to die will take care of that actuarial time bomb. Budget green is people!
Clinton 1993, pass stimulus then taxes
Ain't gonna happen, without a war anyway
Yes because its gonna be damn funny when Obama touts a budget cut and tax hikes and then throws Congress under the bus when they refuse to do such!
is working on a plan to cut the federal deficit in half by the end of his first term.
He just added a trillion dollars to our childrens debt. The deficit is what the government spends over what it said itwould in a given period of time. Read additional debt. So all he is saying is he is going to add less debt to our children in 4 years then planned Not much benefit with his trillion dollars he just did add.
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